NEW YORK, NY / ACCESSWIRE / July 5, 2017 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has issued an update on NeuroVive Pharmaceutical AB (NASDAQ Stockholm: NVP) (OTCQX: NEVPF).
The report is available here: NVP July 2017 Update Note.
Based in Lund, Sweden, NeuroVive Pharmaceutical AB (NASDAQ Stockholm: NVP) (OTCQX: NEVPF) (“NeuroVive”) is a clinical stage biotechnology company focused on the discovery and development of compounds that protect and enhance mitochondrial function. NeuroVive has several intriguing assets, which leverage the company’s domain expertise regarding mitochondria – including multiple projects focused on genetic mitochondria disease and an ongoing clinical trial program for traumatic brain injury. The company’s programs include Phase 2 NeuroSTAT® for the prevention of traumatic brain injury (TBI), and pre-clinical programs targeting mitochondrial disease and NASH. NeuroVive reported positive data from its early Phase 2 clinical study and pre-clinical study of NeuroSTAT for TBI and is expected to continue clinical development for this program. NeuroVive also recently announced what management views as a highly attractive in-licensing deal with South Korea’s Yungjin Pharm Corp for KL1333 for rare genetic mitochondrial disorders.
Yungjin Deal, Swelife Award Raise Neurovive’s Growing Presence in Genetic Mitochondrial Diseases
NeuroVive recently announced that it would in-license KL1333 from Yungjin Pharm Corp. KL1333 is a compound that is being developed for the treatment of rare genetic mitochondrial disorders, and should drive the company’s expanding franchise in genetic mitochondrial disease. Deal terms include a $3mn fee for a candidate with an estimated risk-adjusted NPV (rNPV) of $180mn. NeuroVive also reported that it was awarded a prestigious Swelife grant of SEK 1mn from Swedish innovation agency Vinnova for the development of new treatments for mitochondrial disease, which NeuroVive will put towards developing NVP015 for genetic mitochondrial disorders; Swelife is a national innovation program funded by the Swedish government. Clearly, KL1333 enhances NeuroVive’s business model, as it complements NVP015 in that both are targeted towards mitochondrial disease, but KL1333 is a disease modifier for chronic use, while NVP015 is for acute energy crisis management.
Encouraging Data for Neurostat Program
NeuroVive also continues to advance its lead candidate NeuroSTAT for neuro-protective properties in moderate to severe TBI. The company announced data from two key studies underway, a pre-clinical efficacy study at the University of Pennsylvania (“Penn”) in the US, and the CHIC Phase 2a clinical trial at Copenhagen University Hospital in Denmark. NeuroVive reported that the Phase 2a open label trial was able to meet its main objectives of demonstrating safety and characterizing the pharmacokinetic profile of two dosing regimens of NeuroSTAT in severe Traumatic Brain Injury (TBI) patients (5 and 10 mg/kg/day). Additionally, NeuroVive reported that the studies with Penn showed a significantly reduced volume of brain injury (a 35% decrease) in MRI scans and experimental TBI studies following NeuroSTAT treatment. Considering the results, NeuroVive management stated that it will advance the program, and will begin planning a Phase 2b clinical trial to test the efficacy of NeuroSTAT in TBI patients.
Price Increases to SEK 8.50 for NeuroVive
We are increasing our price target to SEK 8.50 ($0.98) for NeuroVive following the significant addition of KL1333. We remain attracted to NeuroVive’s pipeline and look forward to learning about plans for a Phase 2b trial for NeuroSTAT and further developments in its growing genetic mitochondrial disease.
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About NeuroVive Pharmaceutical AB
NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine, with one project in clinical phase II development for the prevention of moderate to severe traumatic brain injury (NeuroSTAT) and one project in clinical phase I (KL1333) for genetic mitochondrial diseases. The R&D portfolio consists of several late stage research programs in areas ranging from genetic mitochondrial disorders to cancer and metabolic diseases such as NASH. The company’s strategy is to advance drugs for rare diseases through clinical development and into the market. The strategy for projects within larger indications outside the core focus area is out-licensing in the preclinical phase. NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also traded on the OTCQX Best Market in the US (OTC: NEVPF).
About SeeThruEquity
Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.
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Contact:
Ajay Tandon
SeeThruEquity
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SOURCE: SeeThruEquity
